Like Bitcoin, the rules can't change on you and everyone has access. It's not like traditional finance where governments can print money that devalues your savings and companies can shut down markets.Įthereum builds on this. Bitcoin's rules, like its scarcity and its openness, are written into the technology. Bitcoin is open to anyone and no one has the authority to change its rules. It does this by providing a way for a large number of people, who don't trust each other, to agree on a ledger of accounts without the need for a trusted intermediary. Bitcoin lets you really own and control value and send it anywhere around the world. It's built on transparency – anyone can look at a product's data and inspect how the system works.įinancial institutions are closed books: you can't ask to see their loan history, a record of their managed assets, and so on.Įxplore DeFi apps It started with Bitcoin.īitcoin in many ways was the first DeFi application. Markets close because employees need breaks. You must apply to use financial services. Payments can take days due to manual processes.įinancial activity is tightly coupled with your identity. You have to trust companies not to mismanage your money, like lending to risky borrowers. You control where your money goes and how it's spent.
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